Parcion Private Wealth LLC Acquires Shares of 2,500 NetApp, Inc. $NTAP

Parcion Private Wealth LLC acquired a new stake in shares of NetApp, Inc. (NASDAQ:NTAP) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,500 shares of the data storage provider’s stock, valued at approximately $266,000.

Several other institutional investors and hedge funds have also bought and sold shares of NTAP. Manchester Capital Management LLC lifted its stake in NetApp by 375.0% during the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock valued at $25,000 after acquiring an additional 225 shares during the period. 1248 Management LLC acquired a new position in shares of NetApp in the 1st quarter valued at $25,000. Harbour Investments Inc. lifted its stake in shares of NetApp by 287.9% in the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 190 shares during the period. Harbor Asset Planning Inc. acquired a new position in shares of NetApp in the 2nd quarter valued at $28,000. Finally, Olde Wealth Management LLC acquired a new position in shares of NetApp in the 1st quarter valued at $29,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $119.00, for a total transaction of $119,000.00. Following the completion of the sale, the executive vice president owned 22,628 shares of the company’s stock, valued at $2,692,732. This represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George Kurian sold 8,750 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the sale, the chief executive officer directly owned 274,938 shares of the company’s stock, valued at $33,792,629.58. The trade was a 3.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,029 shares of company stock valued at $2,444,194 over the last 90 days. 0.28% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on NTAP. UBS Group boosted their target price on shares of NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a research note on Thursday, August 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Bank of America boosted their target price on shares of NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a research note on Monday, August 25th. Citigroup boosted their target price on shares of NetApp from $115.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Finally, Wedbush reiterated a “neutral” rating and issued a $110.00 target price on shares of NetApp in a research note on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, NetApp currently has an average rating of “Hold” and an average price target of $122.40.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $116.76 on Thursday. The firm has a market cap of $23.31 billion, a PE ratio of 20.63, a PEG ratio of 2.59 and a beta of 1.45. The firm has a fifty day moving average of $118.02 and a 200 day moving average of $105.31. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. NetApp, Inc. has a one year low of $71.84 and a one year high of $135.45.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.35). The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.54 billion. NetApp had a return on equity of 123.24% and a net margin of 17.77%.NetApp’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.56 EPS. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. As a group, research analysts predict that NetApp, Inc. will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.8%. NetApp’s dividend payout ratio is presently 36.75%.

About NetApp

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.